Apple's App Store Is Enjoying An Abundance Of New Growth

The App Store is doing gangbusters when it comes to performance.

Apple is enjoying a ridiculous amount of success when it comes to the App Store, but that shouldn't come as a surprise to anyone. Apple's App Store is a huge part in where the company's most important business is done, which speaks to the record $240 million in App Store purchases on New Year's Day alone.

Much of Apple's income as a whole comes from iTunes and the App Store, but even that is just about 13 percent of the company's total revenue. It also ended up growing last quarter, quoted as saying it paid out $20 billion to developers alone. That number is up over 40 percent from 2015, and Apple generally takes about 30 percent of the revenue that app sales make.

Apple's services are growing quick, but it's tough to say accoridng to analysts which way the services' growth could go -- if it's the hardware method it spells out good news for Apple, but if it's services that end up making up a larger percentage of Apple's revenue, it could mean stagnation of hardware sales. Either way, one thing is for certain: Apple is making bank, and it's definitely seeing profits going forward, as far as the App Store is concerned.